Home »  Money

Sensex, Nifty at new highs as RBI injects liquidity

Tuesday, 3 June 2014 - 4:39pm IST | Agency: PTI

The BSE benchmark Sensex rose by 173 points to close at all-time high level on buying in metal, oil & gas and power stocks as RBI injected liquidity into the markets while keeping key rates unchanged. The 30-share barometer spurted by 173.74 points, or 0.70%, to close at record 24,858.59 points, surpassing previous all time high of 24,716.88 reached on May 26.

The 50-share Nifty of the National Stock Exchange also closed at record 7,367.10 points, up by 53.35 points, or 0.72%. As expected by market participants, RBI kept policy rates and CRR unchanged but cut the statutory liquidity ratio (SLR) for banks by 0.50%.

The central bank, in its second bi-monthly monetary policy statement for 2014-15, unlocked about Rs 40,000 crore of banking fund by reducing SLR to 22.5%. Metal stocks turned investors' fancy after surveys showed China's factory and services sectors had their best showings in months in May.

Tata Steel rose the most among Sensex scrips by 6.69%, followed by Sesa Sterlite which jumped 6.53%. Oil major ONGC gained 4.40% and RIL by 1.15%, helping the Sensex to rise for second day in a row. Among 30-index components, 17 stocks closed with gains. Banking shares had a mixed trend today with some counters such as SBI, ICICI Bank and Axis Bank succumbing to profit-booking, while HDFC Bank and and Yes Bank closed higher.

The BSE metal index gained the most by rising 5.06% to 13,155.30, followed by realty index by 3.15% to 1,981.79. The PSU index rose by 1.87% to 8,486.21 and Oil and gas index by 1.76% to 11,359.50. Among global markets, benchmark indices in Hong Kong and Japan up by 0.91% to 0.66% respectively while European markets were down up to 0.33% in early trade.




Jump to comments